Presenting The Lister Sisters!

The housing slump appears to be affecting the Minneapolis-St. Paul

Metropolitan Area more than other parts of Minnesota, according to a
new report from the Minnesota State Demographic Center.

The study, based on data from the state Department of Revenue, shows
that both median sales price and the number of sales dropped more
within the Twin Cities area than elsewhere in the state between the
first three quarters of 2007 and 2008.

“The Department of Revenue data is a unique resource that
allows us to look at all parts of Minnesota, not just the Twin Cities
area,” said Martha McMurry, a research analyst with the State
Demographic Center. While real estate groups and other organizations
provide information that is more current, they generally provide data
only for large metropolitan areas.

Most regions of the state experienced a decline in the number of
sales, while median sale prices rose in 36 counties and fell in 49
counties between 2007 and 2008. Northwestern and west-central Minnesota
experienced stable or rising prices. By contrast, only Carver County in
the 11 counties of the Minneapolis-St. Paul area experienced rising
prices. Statewide, the median price dropped 5 percent, from $200,790 to
$190,000.

The report, “Minnesota Housing Prices, 2007-2008,” is available online at www.demography.state.mn.us.

Contact: Tom Gillaspy

State Demographer

tom.gillaspy (at) state.mn (dot) us

651/201-2461

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Tags: housing slump, median sales price, twin cities

Good Morning!

If you choose not to read the LONG call to action that was included in our last post (or just don’t want to read it!), here is a video thoroughly explaining the new changes. Check it out!

As usual, we are here to answer any questions!

Happy home owning!

Tags: government in real estate, minnesota, tax law changes, tax laws

Hi all!

We just got a “call to action” from the Minnesota Association of Realtors. Please read through the article in the link and consider telling your Representative “no!” This new law would eliminate the tax deductions that homeowners are entitled to. Three important write-offs being mortgage interest, relative homestead tax law (if you own the house but an immediate family member, not you, live there), and property taxes. This will definitely have a negative effect on the housing market, which is going the right direction currently.

Here is the link: www.mnrealtor.com

Happy home-owning!

Tags: homeowner, minnesota, propsed laws, tax laws